Shark tank star Kevin O’Leary, also known as Mr. Wonderful, is ready to put 5% of his investment portfolio into the Bitcoin Exchange-Traded Fund (ETF) approved by the US Securities and Exchange Commission (SEC). A liar who has long been known as a bitcoin skeptic is concerned about the volatility of bitcoin and wants regulators to be comfortable with it before he jumps.
Kevin O’Leary wants to invest in Bitcoin ETFs
Kevin O’Leary, a Canadian investor and television personality, discussed his views on bitcoin on a podcast hosted by Morgan Creek digital partner Anthony Pampliano last week.
O’Leary is a bitcoin skeptic. He Said In May last year, CNBC told him that Bitcoin was “useless” and “useless currency” because “it’s the worst because you can not enter and exit in large quantities.”
While he still has the same concerns, the Shark Tank star says he is not against bitcoin. “I have a small amount of bitcoin,” he said BTC Because the class he taught at Harvard University challenged me to participate in cryptocurrency.
However, he is concerned about the volatility of bitcoin and the negative reaction of regulators on it. “Every time I record with regulators, I talk to them all the time for a variety of reasons, they are a little upset over bitcoin, they are not much yet,” he warned.
O’Leary added, “When I can sort this out I can put a million dollars in it and I know I’m not going away in any way. And it’s consistent,” he confirmed:
If that happened then we would wake up tomorrow morning and tell SEC that you can create an ETF with Bitcoin and we think Bitcoin is legal, you know, payment method and wealth storage, it’s not just growing you ‘a lot of people like me invested in it.
If that happens, “I’m going to give it a 5% wait, so you know not to have a significant portion of my portfolio volatile.” He said that he would like to invest in ETFs and that most of his investments are in ETFs.
As an investor who believes in diversification, O’Leary reiterates that he suffers “a little”, “in the cryptocurrency you have to be very focused on getting this return in a cryptocurrency, Bitcoin.”
Do you agree with O’Leary? Let us know in the comments section below.
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